Life insurance account in Money
Nina
-
beuch -
beuch -
I am using Money Standard 2002 without issue to track my accounts.
However, I recently subscribed to a mixed support life insurance contract, in unit-linked and euro: a unique account but in a way, in dual currency. No matter how much I think about it, I can't see how to enter it in Money
Could someone please guide me on how to proceed, or tell me if a more recent version of Money has foreseen this situation?
Thank you in advance for your help.
However, I recently subscribed to a mixed support life insurance contract, in unit-linked and euro: a unique account but in a way, in dual currency. No matter how much I think about it, I can't see how to enter it in Money
Could someone please guide me on how to proceed, or tell me if a more recent version of Money has foreseen this situation?
Thank you in advance for your help.
Configuration: Windows XP Firefox 2.0.0.3
4 réponses
Hello Nina .... where are you on this issue?
..... I'm waking up late to the same problem ..03/2008
I had solved it by considering the euro account as the purchase of a stock (quantity bought) and a value of that stock.
Every end of year (or at any time) I would update the value of that stock .... and thus I had an updated value of my euro account.
With the second payment, the solution no longer holds up!! And since then, I've been trying to figure out how to get out of this!
I still haven't found an advisor or any advice.
See you later.
..... I'm waking up late to the same problem ..03/2008
I had solved it by considering the euro account as the purchase of a stock (quantity bought) and a value of that stock.
Every end of year (or at any time) I would update the value of that stock .... and thus I had an updated value of my euro account.
With the second payment, the solution no longer holds up!! And since then, I've been trying to figure out how to get out of this!
I still haven't found an advisor or any advice.
See you later.
Hello Nina,
I wanted to thank you for your post because I was asking myself the same questions and you provided a clear and complete answer.
I had intuitively created an investment for my euro fund that I set to 1 for the number of shares with its initial value, but I still followed your advice by managing it in Caisse.
However, I just realized that it is possible to have the return of an investment but not of a Caisse (or savings!?) account... so I can't automatically know in Money what the return of my euro fund is unless you have a solution that I haven't found!???! (maybe recreating an investment that manages my investment fund with the addition of shares!? but I find that strange because how would I do that for my savings accounts!?)
Thank you in advance to anyone who would be willing to respond!
I wanted to thank you for your post because I was asking myself the same questions and you provided a clear and complete answer.
I had intuitively created an investment for my euro fund that I set to 1 for the number of shares with its initial value, but I still followed your advice by managing it in Caisse.
However, I just realized that it is possible to have the return of an investment but not of a Caisse (or savings!?) account... so I can't automatically know in Money what the return of my euro fund is unless you have a solution that I haven't found!???! (maybe recreating an investment that manages my investment fund with the addition of shares!? but I find that strange because how would I do that for my savings accounts!?)
Thank you in advance to anyone who would be willing to respond!
hello,
well, I have a similar problem: in Money, I made an arbitrage of part of the euro fund (25%) towards unit-linked supports... hello calculating the yield of the euro fund! has anyone found a solution/the magic software?
Thank you for your responses.
well, I have a similar problem: in Money, I made an arbitrage of part of the euro fund (25%) towards unit-linked supports... hello calculating the yield of the euro fund! has anyone found a solution/the magic software?
Thank you for your responses.
Hello, I am a training advisor.
If your search for information is within the context of your job or if you are a business owner, you can benefit from training fully funded by the OPCA organization that redistributes mandatory contributions for continuing professional training.
If you are an individual and wish to take advantage of targeted training that is aligned with your objectives, please contact me.
Jacky
Sincerely
If your search for information is within the context of your job or if you are a business owner, you can benefit from training fully funded by the OPCA organization that redistributes mandatory contributions for continuing professional training.
If you are an individual and wish to take advantage of targeted training that is aligned with your objectives, please contact me.
Jacky
Sincerely
At the time (May 2007) my question only received one response (on another forum), which I am forwarding to you below for future reference: "If your euro contract has a Sicovam code, it’s not a problem. Otherwise, what I did was put it in cash management and manually enter the interest on the euro account each year under euro fund appreciation. It’s not very pretty, but it works."
I couldn't find a Sicovam code for my contract, so I opted for managing euros in the "cash" part of the account.
Not being skilled, I also made myself a memo summarizing - in terms understandable for a novice like me - the method I use for the 3 types of life insurance contracts I own (I now work in version Standard 2005 of Money). It may not be a method in line with professional standards, but it works for me for now. In case it might help you, here is the text of my memo.
1* Euro funds
Create a simple savings account - not an investment account.
2* Unit-linked investments (UC)
The unit of account is not accepted as a "currency". You need to work in euros.
Account creation: to be created as an "investment account".
Starting in the "cash" part: transfer from a checking or other account of the initial amount invested in euros. Deduct any entry fees and other costs in euros (debit).
In the "investment operations" section, enter the initial investment as a purchase of shares, with a transfer from the cash part.
The number = the number of units in UC. The price = the price stated in the membership contract (otherwise: €100). The total must equal the net amount of the initial investment minus fees.
NB. The "cash" part goes down to €0.
Entering management fees: work in the "investment" part (not in the "cash" part).
Click "new" and record the fees as "share deletions".
The fees are expressed as a % of the units in UC. Calculate what this % represents in number of UC units (shares) = the difference between the units held at the end of the last period and those held at the end of the previous period (cf. statements provided by the bank).
Enter this figure in "number".
Optionally specify in "note" what this operation represents.
Updating prices: click on this section in the left column and choose "manually". Enter the last communicated price for each investment.
The "account summary" section automatically takes into account operations recorded in "cash" and "investment".
3* Mixed funds in UC and euros
Account creation: to be created as an "investment account".
Starting in the "cash" part: cf. UC investments.
The portion of the investment in euros (including interest, any periodic transfers, etc.) is considered "cash" and will be managed exclusively in the "cash" section.
The UC portion will be subject to investment operations: purchases to be entered in this section (cf. UC investments).
Entering management fees + updating prices: same as UC investments.
There you go. It’s a bit lengthy, but you may find some elements that will be useful to you. Good luck!
to+
Your message of today (March 17) leaves me puzzled!
I was the one who sent you a "long response" on March 6 and I have received no reply from you.
If you had replied to me, it would be visible in the forum and, indeed, there is nothing.
Talk to you later, possibly...